There's not enough spread between your mortgage and the LTR rates to leave much of anything after they take their cut.

Keep the deposit and cut your losses and keep peace of mind.

That lines up with some properties I've been watching in the $400k range that had to cut $40k or more off list to get under contract. 

If problems are found it creates dought that its totally renovated and they start to wonder if you cut corners.

Renting to students in majors that are study intensive (STEM) can cut down on the damage and engineers like to fix things.

If you can find a duplex where you and your family live in one half and you rent the other half, that is a good way to cut down your housing expenses. 

Last piece of advice for when you are prepared to raise capital for your own projects is to be able to articulate clearly your competitive edge and what makes you different from other GP's who are raising capital for similar projects.

Critical Update: Waiting too long for the Fed to cut rates could significantly impact your approval chances.

Critical Update: Waiting too long for the Fed to cut rates could significantly impact your approval chances.

I also control the bank account so I see every check that gets cut and every debit card purchase.